Standard bidding document

Initial Contract Price is the Contract Price listed in the Employer’s Letter of Acceptance.

Intended Completion Date is the date on which it is intended that the Contractor shall complete the Works. The Intended Completion Date is specified in the SCC. The Intended Completion Date may be revised only by the Employer by issuing an extension of time or an acceleration order.

Letter of Acceptance means the formal acceptance by the Employer of the Bid and denotes the formation of the contract at the date of acceptance.

Materials are all supplies, including consumables, used by the Contractor for incorporation in the Works.

Party means the Employer or the Contractor, as the context requires.